The stats are this: 20 years after starting college, White/Asian have repaid over 94% of the loan amount (median, not average).
Meanwhile, 20 years after starting college, Blacks have 95% of the loan amount still outstanding (median, not average).
#5 | Posted by ScottS
Yep, it's a lie.
I looked up the source. It's called Stalling Dreams back in 2019.
What they did was take all student loans owed and divided it by the number of borrowers. It's the average, not median. Still alarming but not quite the same. It was based on college graduates from the mid-1990's only and includes those who didn't graduate.
For example, if I pay on my student loans and pay them off after 20 years while Scott pays on an income based scale and his loans double over 20 years due to high interest, the average between the two of us is still the original loan amount. This is how income based repayment works. Scott may even have paid enough to pay off his loans but interest ensures that doesn't happen.
And of course, it gets worse when Scott takes out bigger loans than me because my family helps pay for my college.
The study actually found the reasons were racial. Black students were more likely to take out student loans, take out higher loans, have higher interest rates, come from homes with lower household income/networth, have lower household income/networth after graduation, and are less likely to graduate college.
So when ScottS says "Here is the reality: white people pay back their loans (along with Asians) and black people DO NOT."
...He's a racist, lying POS. This is why he won't post his sources...which also say he is a racist, lying POS.
